In this March 28, 2018, file photo, a man walks in front of a Sears sign in San Bruno, Calif. In a move announced Monday, May 14, Sears Holdings Corp. says a special committee of its board is starting a formal process to explore the sale of its Kenmore brand and related assets. (AP Photo/Jeff Chiu, File) less

In this March 28, 2018, file photo, a man walks in front of a Sears sign in San Bruno, Calif. In a move announced Monday, May 14, Sears Holdings Corp. says a special committee of its board is starting a formal ... more

Photo: Jeff Chiu, Associated Press

Photo: Jeff Chiu, Associated Press

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In this March 28, 2018, file photo, a man walks in front of a Sears sign in San Bruno, Calif. In a move announced Monday, May 14, Sears Holdings Corp. says a special committee of its board is starting a formal process to explore the sale of its Kenmore brand and related assets. (AP Photo/Jeff Chiu, File) less

In this March 28, 2018, file photo, a man walks in front of a Sears sign in San Bruno, Calif. In a move announced Monday, May 14, Sears Holdings Corp. says a special committee of its board is starting a formal ... more

Sears is quietly closing at least 40 stores in 24 states, in addition to the 166 stores that the company previously said it would close this year.

Most of the stores on the new list will close in July and August.

Sears has not publicly announced many of the store closings slated for this summer. Business Insider confirmed the list of closing stores based on information from multiple Sears employees and local news reports.

Sears spokesman Howard Riefs told Business Insider last month that some employees at closing stores would be eligible for severance.

"Those associates that are eligible will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores," he said.

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Sears has cut its store count in half within the last five years. The company had 1,002 stores as of early February, down from 1,980 stores in 2013. It closed another 103 stores in April, in addition to the 40 stores that will close by August.

In addition to closing stores, the company is selling a handful of other locations online through a partnership with Cushman & Wakefield, a real-estate services company.

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The properties are advertised as sale-and-leaseback deals, meaning Sears would make rent payments to the winning bidders to remain in the space.

Some properties with flexible lease agreements could allow for the space to be redeveloped into self-storage, hotels, or residential units, according to The Wall Street Journal. Depending on the terms of the lease, it's possible that the Sears stores could shut down entirely or shrink to take up less space on the property, as the company has done with several other locations.